Good morning, and welcome to Stockhead’s Top 10 at shortly-before-11-ish, which is meant to highlight the best (and sometimes worst) performing ASX stocks in morning trade using live data, to provide a short, sharp update to help frame the trading day by showing the biggest movers in percentage terms that have made announcements.

The market opens at 10am (eastern time) and the data is taken at 10:15am, once every ASX stock has started trading.

Briefly, here’s what’s been happening already this morning: Local markets are off to a rocky start this morning, with the benchmark plunging nearly 1.5% in the opening minutes of the session after the bum fell out of several key commodities overnight. Within minutes, Energy was down 2.6% and Materials were down 2.4%.

In addition to that, Wall Street tumbled overnight, with the big guns shedding a lot of value. Chipmaker Nvidia saw more than US$280 billion wiped off its market cap in a single session after falling 9.8%.

In China, things are also looking shaky. The Shanghai Composite closed fractionally above 2,800 points – which is a crucial support level for Chinese markets, and a worrying sign that the economy there is on even shakier ground than before. Chinese banks led the losses yesterday, with lenders reportedly storming the exits as things unravel in Beijing.

So… I suggest you strap in. Things could get a little bumpy today.

 

WINNERS

Stocks highlighted in yellow have made market-moving announcements (click headings to sort).

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Augustus Minerals (ASX:AUG) was rising nicely on Wednesday morning, on news that the company has found a 1km-long stretch of mineralised zone associated with quartz veining, malachite (secondary copper carbonate mineral) and iron oxide after weathered sulphide minerals, 3.7km from its existing Claudius (6.6% Cu, 86ppm Ag) discovery at the Ti Tree project. Rock chip analysis from the new site has returned copper grades up to 3.1% and silver grade up to 11g/t, with the new find now bearing the name Nero.

Marquee Resources (ASX:MQR) was up on news that a site in Italy it has options to acquire – the high-grade Sa Pedra Bianca Gold and Silver Project located in northern Sardinia, Italy – has returned antimony grades of up to 6.5% Sb from historical channel sampling and exploratory drilling. Work is being undertaken by an Italian private company recently incorporated to conduct the business activities associated with the project, with Marquee expecting to begin its own exploration in 3-6 months.

Lithium Australia (ASX:LIT) was up on news that it has signed a new exclusive agreement with Chinese EV maker BYD Auto to provide battery recycling services for all New Energy vehicles end-of life batteries in Australia. The exclusive agreement has an initial term of 3 years, and the company expects to significantly increase large-format lithium-ion battery collection volumes, given the scale of BYD Auto as it expands into the Australian market.

 

LAGGARDS

Stocks highlighted in red have made market-moving announcements (click headings to sort).

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This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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